Forbes: The Increasing Size of Cannabis Market

Client Medical Marijuana, Inc. and its consumer products were featured in an article by Forbes about the potential market size for cannabis by 2020.

“Medical Marijuana Inc. said that there were $65 million in hemp-based CBD sales in 2015 and that they are the current market leader with over $800,000 in retail CBD sales per month. Their CBD sales have grown from $3.4 million in 2013 and are expected to be $9 million in 2016.

The market has already changed dramatically in the short time that Medical Marijuana started selling their products in 2013. Four years ago, customers were paying $1.25 for a mg., but buying less. Now the prices have plunged to 2.5-4 cents per mg. and the volumes have increased. They were basically the only game in town in 2014 when their sales were $14.5 million. However, increased competition and the drop in prices has halved their sales figures even though their customer count has increased.”